Angel Broking IPO subscribed 77pc on day one

The initial public offer of Angel Broking was subscribed 77 per cent on the first day of subscription on Tuesday. The Rs 600-crore public offer received bids for 1,05,01,827 shares against the issue size of 1,37,25,490 shares. Non institutional investors category was subscribed 16 per cent and retail individual investors 1.46 times.

The initial public offer of Angel Broking was subscribed 77 per cent on the first day of subscription on Tuesday. The Rs 600-crore public offer received bids for 1,05,01,827 shares against the issue size of 1,37,25,490 shares.

Non institutional investors category was subscribed 16 per cent and retail individual investors 1.46 times. Angel Broking's initial public offer comprises a fresh issue of Rs 300 crore and an offer for sale of Rs 300 crore.

Price range for the offer, which is scheduled to close on Thursday, is at Rs 305-306 per share. Angel Broking on Monday raised nearly Rs 180 crore from anchor investors.

Proceeds of the issue will be utilised for meeting working capital requirements and for general corporate purposes. Edelweiss Capital, ICICI Securities, and SBI Capital Markets are managing the offer.